U.S. July producer inflation data landed softer than expected on the headline readings, with monthly PPI at 0.0% versus a 0.2% expectation and annual PPI at 4.7% versus 4.9% expected. Core PPI, which strips out more volatile components, matched or slightly beat forecasts: the monthly core reading was 0.2% against a 0.3% expectation, while the annual core figure was 4.2%, in line with expectations and down from 4.7% previously. The release came a day after U.S. inflation data and as Bitcoin and broader global markets remained focused on signs of whether price pressures are easing. The source said experts did not expect a September rate hike from the Fed after CPI came in line with expectations, though FedWatchTool data still showed the probability of a September rate hike priced above 40%. Analysts had said a lower-than-expected PPI print could be read as a sign inflation pressures are cooling, potentially strengthening expectations for a Fed interest rate cut and supporting Bitcoin and other risky assets. A hotter-than-expected reading, by contrast, was seen as a possible trigger for short-term selling pressure in Bitcoin by weakening rate-cut expectations.